5 Safe Stocks to Buy in 2022 According to Seth Klarman

4. Alphabet Inc. (NASDAQ:GOOG)

Baupost Group’s Stake Value: $681 million

Percentage of Baupost Group’s Stake Value: 7.32%

Number of Hedge Fund Holders: 160

P/E Ratio: 19.26

Alphabet Inc. (NASDAQ:GOOGL) is the fourth largest corporation in the world with a market cap of $1.7 trillion as of the first quarter of 2022. It is the parent company of the prominent and widely used search engine, Google. 

Following the company’s first quarter results, Guggenheim analyst, Michael Morris lowered his price target on Alphabet Inc. (NASDAQ:GOOG) to $3,000 from $3,350 with a ‘Buy’ rating on the shares.

Baron Funds discussed Alphabet Inc. (NASDAQ:GOOG) in their “Baron Global Advantage Fund” investor letter of Q1, 2022. Here’s what it said:

“We have modestly reduced the size of our position in Alphabet Inc. (NASDAQ:GOOG) (from 6.5% at the end of the fourth quarter of 2021 to 5.3% as of the end of the first quarter of 2022), after the stock rallied 64% in 2021 and continued outperforming during the first quarter, declining just 3%.”